1) The table shows the amounts

1) The table shows the amounts of crude oil​ (in thousands ofbarrels per​ day) produced by a certain country and the amounts ofcrude oil​ (in thousands of barrels per​ day) imported by the samecountry for seven years. The equation of the regression line is

y = -1.339x+17,009.89.

Complete parts​ (a) and​ (b) below.

Produced, x   Imported, y5,831 9,3365,674 9,1915,575 9,6765,408 10,0085,236 10,1085,174 10,1785,037 10,053

​(a) Find the coefficient of determination and interpret theresult.

r2=

– How can the coefficient of determination be​ interpreted?

​(b) Find the standard error of estimate and interpret theresult.

s=

– How can the standard error of estimate be​ interpreted?

Answer:

​(a) Find the coefficient of determination:

Coefficient of determination is show that the ralationbetween dependent variable and other independent variable,

coefficient of determination =r2=0.7982

Interpretion :

About 79.82 % of the variation in the amounts of crudeoil​ imported by the same country for seven years can be explainedby the number the amounts of crude oil​ produced by a certaincountry .

Excel Calculation :

​(b) The standard error of estimate and interpret theresult.

s=s/sqrt(5)

s=195.41

The standard error of estimate of the 195.41 is theamount f crude oil produced by a certain country

Regrssion Anlysis :


 
"Our Prices Start at $11.99. As Our First Client, Use Coupon Code GET15 to claim 15% Discount This Month!!"

Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
4.9
Sitejabber
4.6
Trustpilot
4.8
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
$0.00
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.